CA SRI LANKA-SAFA-IFAC SMP REGIONAL FORUM

Tuesday, 26th January 2016, Cinnamon Lakeside, Colombo, Sri Lanka

EMPOWERING ASIA’S SMALL & MEDIUM BUSINESS HUB

Special Address byGiancarlo AttoliniChairman IFAC SMP Committee

OverviewSmall- and medium-sized practices (SMPs) constitute the vast majority of accountancy practices worldwide.

This one-day forum will bring together regional and national accounting organisations, standard-setters, and other interested parties to discuss how to address the challenges and unique opportunities facing small and medium-sized practices (SMPs) and small and medium-sized entities (SMEs).

ObjectivesAt the end of this forum, participants will be able to:

• Understand how the ISAs would be applied to the audits of SMEs • Help build capacity to offer advisory services

• Be familiar on how to get the benefit of IFAC resources

• Overcome current challenges and seize future opportunities

• Grow the practices through the review, compilation and agreed upon procedures engagements

• Be up to date on the recent developments and learn how to be future ready

Target Group:• Practitioners

• Professional accountancy organisations

• Those responsible for SMP/SME affairs at their organisations

• Other interested parties

Programme Outline8.00 am Registration and Welcome Refreshments

8.30 am Welcome Address Mr. Lasantha Wickremasinghe, President - CA Sri Lanka

8.40 am Address by Mr. Giancarlo Attolini, Chairman - IFAC SMP Committee

9.00 am Session 01: Proportionate Application of I SAs and ISQC1 & IFAC Resources Examine the Structure of the ISAs and how certain ISAs can be proportionately applied to the audits of SMEs, focusing on ISA 200, 210, 315, 230, Documentation and ISQC 1. Outline of IFAC resources – QC Guide, ISA Guides, Global Knowledge Gateway

Keynote Speaker and Moderator: Mr. Manoj Fadnis President of ICAI, Deputy President of CAPA

Speakers: Mr. Ahmad Saeed Learning and Development Consultant

Mazars Consulting, Pakistan Mr. Kapila Atukorala Partner, Kreston MNS & Co, Council Member of CA Sri Lanka

10.50am Tea break

11.10am Session 2: Global Challenges and Opportunities for SMPs Sharing of results of the IFAC Global SMP Survey 2015, this focuses on the challenges and future opportunities for SMPs.

Speakers: Mr. Jagath Perera ( Moderator) Vice President, CA Sri Lanka

Mr. Paul Thompson IFAC Director - Global Accountancy Profession Support

Mr. Muhammed Farhad Hussain Member Council & Past President ICAB

12.30 pm Lunch Break

1.30 pm Session 3: Growing Your Practice: Review, Compilation and Agreed-Upon Procedures Engagements With the potential audit exemption for small companies and the growing demand for non-audit services, reviews, compilation engagements and agreed- upon procedures engagements con ducted in compliance with the relevant revised International Standard on Review Engagements (ISRE) 2400, Inter national Standard on Related Services (ISRS) 4410 and (ISRS) 4400 respectively, provide new opportunities for profes sional accountants in practice and their clients.

Speakers: Mr. Sanjaya Bandara (Moderator) Partner, B R De Silva and Co, Council Member of CA Sri Lanka

Mr. Giancarlo Attolini Chair, IFAC SMP Committee Mr. Prakash Jung Thapa Council Member The Institute of Chartered Accountants of Nepal

3.00 pm Tea Break

3.15 pm Session 4: Future-Ready SMPs Overview of the IFAC Guide to Practice Management and provide detail on recent developments focusing on spe cialization, pricing, marketing and tech nology. How SMPs can evolve to be future ready and build capacity to offer advisory services.

Speakers: Mr. Sanath Fernando (Moderator) Partner, Ernst and Young, Sri Lanka, Member, Implementation Group of the IFRS for SMEs,

Mr. Bodo Richardt President European Federation of Accountants and Auditors for SMEs

Ms. Robyn Erskine Member, IFAC Small and Medium Practices Committee

Mr. Somasiri Munaweera Partner, Munaweera and Co

4.45 pm End of Forum

Facilitators

Lasantha Wickremasinghe is the incumbent President of the Institute of Chartered Accountants of Sri Lanka. He is a fellow member of CA Sri Lanka and the Association of Accounting Technicians of Sri Lanka (AAT). He has served as a Council Member of CA Sri Lanka since 2006 and the Council of AAT during 2004-2007. He is a Technical Advisor for the Confederation of Asian Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA) for 2014/15. Lasantha is the Chairman of the Improvement in Transparency, Accountability & Governance Committee (ITAG) of SAFA.

Giancarlo Attolini became chair of the Small and Medium Practices (SMP) Committee in January 2012. He has been a member of the committee since January 2008 and served as deputy chair in 2010-2011.

Dr. Attolini is an accountant and auditor in public practice. He is a founding partner of Attolini Spaggiari & Associati Studio Legale e Tributario, an accounting, tax, and law firm in Reggio Emilia, Italy.

Dr. Attolini is a member of the managing board of Organismo Italiano di Contabilità, the Italian accounting standard setter, and a member of the managing board of Organismo Italiano di Valutazione, the Italian valuation standard setter. He also served as a member of the Governance and Nominating Committee of European Financial Reporting Advisory Group from 2012 to 2014.

He served as a council and executive committee member of Fédération des Experts Comptables Méditerranéens (FCM) from 2009 to 2012.Dr. Attolini graduated with honors with a degree in economics and business administration from the University of Modena, Italy.

Jagath Perera is the Vice President of the Institute of Chartered Accountants of Sri Lanka and has served as a Member of the Council since 2010. He chairs the Examination Committee and the SMP Capacity Building Task Force of CA Sri Lanka. Currently, he serves as a board member of Sri Lanka Accounting and Auditing Standards Monitoring Board.He is a member of SMPs, Anti-Corruption and also the Professional Ethics and Independence Committees of the South Asian Federation of Accountants (SAFA). He is a fellow member of CA Sri Lanka and a graduate of BSc. (Business Administra-tion) from the University of Sri Jayewardenepura. He is also a member of the Institute of Internal Auditors and a Certified Fraud Examiner of USA. Jagath is a Partner at KPMG Sri Lanka since 2001. He is the Partner in charge of Maldives, Galle & Hambantota Branches, and at present he heads Risk Consulting in Sri Lanka and Forensic services in the South Asia Cluster of KPMG.

Manoj Fadnis, a fellow member of the Institute of Chartered Accountants of India (ICAI), is currently serving as the organization’s vice president for the term 2014-15.

Fadnis qualified as a chartered accountant in 1987 and has been in practice ever since. He currently represents the Indian accountancy profession on a number of international groups. In addition to serving as a technical adviser to CA. K. Raghu on the IFAC Board, he is a technical advisor to a member of IFAC’s Small and Medium Practices (SMP) Commit-tee. He is also chair of the SMP of the regional body, the South Asian Federation of Accountants (SAFA) for 2014-15. And, he represents ICAI during the meetings of the National Standard Setters, World Standard Setters, Asia Oceania Standard Setters Group, and Emerging Economies Group.

Fadnis has been a Central Council member of ICAI since 2001. In addition, he was nominated to serve on the board of public companies by the Ministry of Corporate Affairs, Government of India and also serves as independent director on the boards of several listed companies.

Bodo Richardt has been an accountant and auditor for over 30 years. He has worked in a variety of professional prac-tices, ranging in size from the Big 4 to SMPs in Germany, France and the United States. He also worked on international and national standard setting boards including the International Auditing and Assurance Standards Board (IAASB) and the Institute of Public Auditors in Germany (IDW). He furthermore served the auditing and accounting profession as Bavarian President of the Wirtschaftsprüferkammer. He currently works as a consultant to SMEs and family owned businesses, specializing in expert opinions on audit and accounting related questions, business valuations, mediation and arbitration.

Bodo Richardt has been serving as the President of the European Federation of Accountants and Auditors for Small- and Medium-sized Enterprises (EFAA) since 2014. EFAA is an umbrella organisation of 13 national institutes representing more than 320.000 accountants and auditors working in small- and medium-sized practices (SMPs), who are mainly providing professional services to SMEs.

Facilitators

Sanjaya Bandara has been a member of the council of the Institute of Chartered Accountants of Sri Lanka since 2012. At present he serves as chairman of the Member Relations Committee and as the alternate chairman of the Educa-tion, Curriculum Review & Development Task Force and Student Training and Development Committee of CA Sri Lanka.

Sanjaya has been a regular presenter at seminars and workshops conducted by CA Sri Lanka on Sri Lanka Accounting Standards and Sri Lanka Auditing Standards and in the awareness sessions on the marking process of annual report marking. Recently, he was involved in training 100 accountants in “Bhutan” on application of International Financial Reporting Standards (IFRS). At present, he also provides his services to the public sector wing of CA Sri Lanka (APFASL) to train accounting staff of government institutions on application of Sri Lanka Public Sector Accounting Standards.

Sanjaya is a fellow member of CA Sri Lanka. He holds a B.Sc (Accountancy) Special degree from the University of Sri Jayewardenepura, and a MBA from the University of Colombo. Sanjaya is the technical partner of B.R De Silva & Co, Chartered Accountants and counts for over 17 years of experience in practice.

Ahmad Saeed is a Fellow member of the Institute of Chartered Accountants of Pakistan and the Institute of Cost and Management Accountants of Pakistan. He is also a Past President of the Institute of Chartered Accountants of Pakistan (ICAP).

Saeed has extensive experience, spanning over forty five years, and has worked for leading international accounting and consulting firms in Pakistan and outside Pakistan.

He served his training contract with A. M. Gangat & Co., a two partner firm, and later on, he moved to Taseer Hadi Khalid & Co. and gained first-hand experience on how a small firm can be transformed into a large one in a relatively short period of time. He become a full member of the international firm – Peat Marwick (now known as KPMG).

Saeed was also associated with Peat Marwick’s consulting practice in Pakistan, which later on became BearingPoint (now known as Mazars Consulting). At present he functions as a Learning and Development Consultant.

Christopher Arnold has been working for IFAC as a Technical Manager, SME & SMP Affairs since September 2013. He was previously an Audit Manager for Deloitte and qualified as an accountant in a mid-tier accountancy practice in London. Christopher started his career as a Small Business Policy Adviser at the Association of Chartered Certified Accountants (ACCA).

Paul Thompson joined IFAC in 2004 and is presently Director, Global Accountancy Profession Support, having previously served as Director, SME & SMP Affairs, where he led IFAC’s initiatives to support the development of small- and medium-sized practices (SMPs) and the value they add to small- and medium-sized entities (SMEs). Mr. Thompson now leads the Global Accountancy Profession Support business line for IFAC, which encompasses the Global Knowledge Gateway, SMP/SME, and professional accountants in business. From 1988 to 1991, Mr. Thompson worked for Touche Ross & Co., London, where he specialized in the audit of financial institutions. He then went on to lecture on financial reporting and analysis at the undergraduate and MBA levels at universities in the UK, Singapore, and Malaysia. He has contributed to a number of publications in academic journals and the professional press in the areas of bank lending, financial report-ing, corporate governance, and corporate social reporting. Mr. Thompson graduated from the University of Warwick with a bachelor of science in accounting and financial analysis.

M. Farhad Hussain is the former President of the Institute of Chartered Accountants of Bangladesh (2007), Director of Prime Bank Ltd., Director of Dhaka Water and Sewerage Authority (WASA) and Chairman of Prime Bank Invest-ment Ltd. He is also a former Board Member of Dhaka Stock Exchange (DSE), Agrani Bank Limited, South Asian Federation of Accountants (SAFA), Confederation of Asian & Pacific Accountants (CAPA) and former Advisor of Bangladesh Securities and Exchange Commission (BSEC). Mr. Hussain is actively involved with different standing and non-standing Committees of the Council of ICAB including acting as Chairman of SMP Committee since 2011 and served as Editor of Quarterly Journal ‘The Bangladesh Accountant’ of ICAB for four years. He is also serving as a Member of SAFA SMP Committee. He delivered lectures/presented papers on the different topics on Capital Market, International Accounting and Auditing Standards and SMPs/SMEs both at home and abroad. He also served as a Lecturer in Independent University of Bangladesh for 3 years. M. Farhad Hussain is the Managing Partner of Hussain Farhad & Co., Chartered Accountants. He is a Fellow and Council Member of Institute of Chartered Accountants of Bangladesh with thirty seven years of experience in key positions of Finance and Accounts with multi-disciplinary business organizations.

Facilitators

Kapila Atukorala is a member of the Council of the Institute of Chartered Accountants of Sri Lanka. He also serves on the Financial Reporting Standards Implementation and Interpretation Committee, Financial Reporting Faculty and SLFRS Education Committee of CA Sri Lanka. He has functioned as Sector Co-ordinator and Alternate Chairman for Annual Report Awards committee and participated in annual report marking for the SAFA region, representing CA Sri Lanka. Kapila has actively engaged in curriculum development and syllabus revision activities of CA Sri Lanka since 1999. Further, he has been a lecturer at private tuition colleges for more than 20 years for CA Sri Lanka Students and has actively engaged in CA Sri Lanka student promotional activities. He has served as a presenter for several Sri Lanka Accounting Standards seminars and workshops organized by CA Sri Lanka.

He has served as a member of the committee that developed SLFRS for Smaller Entities that was launched in October 2015. Kapila has over 20 years of experience in practice and industry with exposure to development banking, finance, manu-facturing, education, business valuation, accounting, assurance and taxation and at present works as a partner at Kreston MNS & Co Chartered Accountants.

Sanath Fernando is a Fellow Chartered Accountant and a Fellow member of the Institute of Chartered Management Accountants of UK. He is also a member of CMA Sri Lanka.

He is currently a Partner of Ernst & Young Sri Lanka, and has served EY for the last 24 years.

He is the Head of the Ernst & Young’s Asia Pacific Accounting Subject Matter Group on IFRS for SMEs. He was the chairman of SLFRS Education Committee and also served on the Financial Reporting Interpretation Commit-tee of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka)

Recently the IFRS Foundation, the body responsible for the adoption of IFRSs and the oversight of the IASB, appointed Sanath as a member of its Implementation Group of the IFRS for SMEs, for a second term.

Somasiri Munaweera is a fellow member of the Institute of Chartered Accountants of Sri Lanka, with over three decades of experience in the industry and practice both in Sri Lanka and overseas. He is a Governing Council Member of AAT Sri Lanka.

He was the President of the CA Sri Lanka Members’ Benevolent Society and was the Alternate Chairman of the Member Relations Committee of CA Sri Lanka.

Somasiri holds a MBA from the Postgraduate Institute of Management of the University of Sri Jayewardenepura and a Bachelor of Commerce degree from the University of Colombo. He is a doctoral candidate of the Postgraduate Institute of Management of University of Sri Jayewardenepura.

He is an Alumni of Burah Hathy & Co., (Presently BDO Partners), Chartered Accountants, University of Colombo, University of Sri Jayewardenepura and Postgraduate Institute of Management.Presently he functions as the Managing Partner of S. Munaweera & Co., Chartered Accountants, and as a director of Alumex PLC and Alufab PLC (Subsidiaries of Hayleys PLC)

Robyn Erskine became a member of the IFAC Small and Medium Practices Committee in January 2015. She was nominated by CPA Australia and the Institute of Chartered Accountants in Australia.

Ms. Erskine is a partner in Brooke Bird, a Melbourne-based SMP accounting practice, and commands 25 years of experience in the accounting profession and as an insolvency practitioner.

Ms. Erskine currently serves on the Victorian Divisional Council and the Victorian Public Practice Committee for CPA Australia. She is the immediate past president of the Australian Reconstruction Insolvency and Turnaround Association, where she continues to serve as a board member.

Ms. Erskine holds a bachelor of business degree, and is a Fellow of CPA Australia and a Chartered Accountant. She is an Official Liquidator or the Supreme and Federal Courts of Australia, a Registered Liquidator, and a Registered Bankruptcy Trustee.

Prakash Jung Thapa is a council member of the Institute of Chartered Accountants of Nepal (2015-18) for a second term. He is the Chairman of Disciplinary Committee and member of various other committees. He has been in public practice for more than 20 years including 6 years in Australia (2006-2012). He is a member of the Institute of Chartered Accoun-tants of Australia and a fellow member of the Institute of Chartered Accountants of India. He worked with firms associ-ated with Deloitte and PwC. Mr. Thapa is also a Consultant to the World Bank/Nepal and is also involved in various projects funded by Asian Development Bank in Public Financial Management sector in Nepal. He also served as a member of the Accounting Standard Board / Nepal and as Treasurer of the Association of Chartered Accountants of Nepal.

REGISTRATION FORM CA SRI LANKA-SAFA-IFAC SMP REGIONAL FORUMTuesday, 26th January 2016, Cinnamon Lakeside, Colombo

Title: Dr. Mr. Mrs. Ms.

Name with initials:

Organisation:

Address:

Designation:

Tel: Mobile: E-mail:

Fee Structure:Category FeesCA Sri Lanka Members / Students LKR 4,500Other Local Attendees LKR 6,000Foreign Delegates USD 80

If you are a Member / Student of CA Sri Lanka or a local attendee, please state the membership / student number / National ID number or if you are a foreign participant, please provide your passport number:

……………………….. …………………………Signature Date

Mode of payment: Reference No: Date:

For online payment please visit: www.casrilanka.com

GENERAL INSTRUCTIONS

1. All reservations / registrations will be confirmed subject to receipt of payments and on a first come first served basis due to limited seating. Requests for registration without payment will be subject to institute approval.

2. Duly filled registration forms along with cheques drawn in favour of “The Institute of Chartered Accountants of Sri Lanka” – (A/C Payee only) must reach CA Sri Lanka latest by 22nd January 2016.

3. Cancellations received prior to the closing date will be refunded in full. No refunds will be made for cancellations received later than this.

4. Payment can be made at the Institute’s cashier counter on Monday from 8.30 am to 5.00 pm; Tuesday to Friday from 8.30 am to 6.00 pm and on Saturday from 8.30 am to 4.00 pm, before 22nd January 2016.

5. For further information and local registration, contact: Samanthi on (+94 11) 2 352072 or email samanthi.perera@casrilanka.org or for the foreign registrations, contact Ishvi on (+94 11) 2 352063 or email ishvi.sherieff@casrilanka.org

6.Visa requirements

Invitation letter required Yes No

Note: Invitation letter will be sent through email only on request.

VISA obtaining With regard to VISA processing for entering Sri Lanka, the following three options are available:

1.Visa confirmation through ETA (Electronic Travel Authorisation system. Please visit http://www.eta.gov.lk )

Step 1: Fill the details on the web link Step 2: Online payments through credit card (Approximately 30 USD) Step 3: Confirmation and the reference number will appear on the screen (Take a print out of the confirmation). Step 4: Submit the reference number and the confirmation printout at the airport.

2.Visa on Arrival to Sri Lanka The delegate can come to Sri Lanka and get On Arrival VISA at the Airport Sri Lanka Immigration & Emigration Department Counter (Payment of Approximately 30 USD will be required)

3.Manual Visa processing through the Sri Lankan Embassy at the respective countries. We recommend the first option, as it is convenient, straight forward and well accepted.

Hotel accommodationHotel Cinnamon Lakeside is the official hospitality partner for the event and is recommended for stay in Colombo Sri Lanka.

CA Sri Lanka has negotiated special rates for delegates and reserved a limited number of rooms with free internet access in rooms.

Should you wish to make your hotel reservations at Hotel Cinnamon Lakeside, please use the attached reservation form to enjoy the special rates offered.

HOTEL RESERVATION FORM CINNAMON LAKESIDE COLOMBO, SRI LANKA 24th TO 27th January 2016 CA SRI LANKA-SAFA-IFAC SMP Regional Forum Hosted by THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA

www.cinnamonlakeside.com

Please fill in the required details and email it directly to the email addresses below, on or before 20

th January 2016:

Ms. Dharshini Senanayake Reservations Supervisor Email; Reservations.lakeside@cinnamonhotels.com Mr. Muzanif Mohamed Email; muzanif@cinnamonhotels.com Cinnamon Lakeside Colombo 02, Sri Lanka Phone No: +94-11-2491000 All emails should be sent to Reservations.lakeside@cinnamonhotels.com with a copy to muzanif@cinnamonhotels.com / ishvi.sherieff@casrilanka.org

Accommodation Reservation

GUEST INFORMATION

Family/surname : Given name :

Company :

Position/Job title :

Telephone no. : Fax no. :

Email :

RESERVATION INFORMATION

Check-in date : Flight No. : Time :

Check-out date : Flight No. : Time :

Number of nights’ accommodation required :

Room type Special Room Rate Tick preferred room type ()

No. of guests per room

Superior Deluxe Room - Single

USD 134.00 ++++

Superior Deluxe Room - Double

USD 143.00 ++++

The above room rates are subject to 10% Service Charge, 1% TDL, 2.% Nation Building Tax & 12.5% Value added Tax. All guests staying at the Cinnamon Lakeside Hotel are entitled to the following complimentary services:-

All Guests upgraded to Premium floor rooms on availability basis.

Wi Fi free for all in house guests

Complimentary use of the Gymnasium, Sauna, Steam bath and Swimming Pool

Guest rooms will be offered 2 bottles of mineral water per day.

Daily newspaper and tea making facility in room.

In built safe, bathrobe, slippers and all amenities

Special free early check in for CA delegates arriving at 6.30 am / free late check out at 18.00hrs FOC (Subject to availability). Bookings before 6.30 am will be charged full rate.

Special request/remarks : Please specify Non Smoking/Smoking room preferred.

Transportation Reservation

AIRPORT TRANSFER SERVICE

Service required for (please state ‘Yes’ or ‘No’) : Arrival : Departure :

Vehicle type (capacity) Rental cost (per vehicle) Tick preferred

vehicle type () No. of guests per

vehicle

A/C Car ( 2 Passengers ) USD 50.00Nett (Pick-up)

A/C Van ( 6 Passengers) USD 70.00 Nett (Pick-up)

A/C Bus (12 passengers) USD 80 .00 Nett (Pick-up)

A/C Car ( 2 Passengers ) USD 50.00 Nett (Drop-off)

A/C Van ( 6 Passengers) USD 70.00 Nett (Drop-off)

A/C Bus (12 passengers) USD 80 .00 Nett (Drop-off)

Reservation Guarantee

GUARANTEE INFORMATION

Credit card details are required to guarantee a reservation. Please provide the following information.

Card type (please indicate) : Amex Master card Visa

Card holder’s name :

Credit card number :

Card expiry date : Signature :

HOTEL TERMS & CONDITIONS

Standard check-in time: after 12:00noon Standard check-out time: before 12:00 noon

Early arrivals or late departures: -

Early Check-in after 6.30hrs- FOC (Subject to availability of rooms).

Late Check-out at18.00hrs – FOC (Subject to availability of rooms).

Amendment / Cancellation policy: Any amendments or cancellations should reach the hotel 03 days prior to guest’s arrival. No-shows will be charged for the full stay.

FOR HOTEL USE ONLY

Confirmation number : Confirmation date :

Confirmed by :